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Study: Buffalo Grove, Arlington Heights residents best with their money

How are your money management skills?

If you live in Arlington Heights or Buffalo Grove, chances are they're pretty good.

Residents of those villages rank among the best in Illinois and the nation when it comes to making smart personal financial decisions, according to a new study published by the finance website WalletHub.

According to the findings, Buffalo Grove places 73rd and Arlington Heights ranks 83rd out of 2,570 communities measured in the study. The villages, which placed third and fourth in Illinois, are in the 97th percentile of all the towns examined.

The report, which can be found at wallethub.com, ranks towns based on eight metrics, including credit score, credit-card debt-to-income ratio, mortgage debt-to-income ratio, average number of late payments, average percent of credit used and foreclosure rate.

Other suburbs to fare well include Wilmette (24), Northbrook (28), Park Ridge (99), Libertyville (101), Lemont (119), Mount Prospect (192), Glen Ellyn (193) and Elk Grove Village (198).

Nationally, Cupertino, California placed first and Boone, North Carolina ranked last.

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